The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revived investor confidence, strengthened governance, and improved investment prospects in the country’s oil and gas sector through sweeping reforms, according to the Centre for Energy Market Stability and Reforms (CEMSR).
In a statement on Wednesday, CEMSR Executive Director, Musa Garuba, said the commission—under the leadership of Gbenga Komolafe—has delivered some of the most significant improvements seen in Nigeria’s upstream industry in recent years.
Garuba noted that clearer regulatory guidelines, greater transparency, and enhanced field oversight have repositioned Nigeria as a more attractive destination for upstream investment.
He described NUPRC’s leadership as “effective and visionary,” citing accelerated approvals, stronger compliance systems, and the removal of long-standing operational hurdles that once discouraged investors.
According to him, rising rig counts, increased field development activities, and renewed interest from major international operators all point to the positive impact of the reforms.
“The leadership of NUPRC has brought stability to a sector that was once defined by unpredictability,” he said. “Investors are responding positively because they see a regulator that is firm, knowledgeable and committed to long-term industry growth.”
Garuba also praised the commission’s transparent approach to licensing, which he said has rebuilt trust among both local and international stakeholders.
He commended NUPRC for expanding the use of technology in regulatory operations—such as digital reporting systems and modern data-management platforms—describing these tools as essential for efficiency, transparency, and global competitiveness.
“The investment community is watching closely,” he added. “What they see is a regulator strengthening its rules, improving enforcement, and communicating clearly. These reforms are already boosting production performance and laying the foundation for meeting national output and reserves targets.”
